BENGALURU: Indian shares swung to losses on Wednesday as the market registered its slowest trading day on record, ahead of the release of the Reserve Bank of India’s (RBI) latest policy meeting minutes and key US macroeconomic data.
The Nifty 50 index closed 1.01% lower at 18,199.10 and the S&P BSE Sensex fell 1.03% to 61,067.24. Both benchmarks had risen nearly 0.5% during the session.
Trading volume on the Nifty 50 was at 187,594,000, when markets closed, the lowest ever on record, according to Refinitiv data.
“Dullness is expected and will likely continue till the year-end as foreign institutional investor activity dies down around this time of the year,” said G Chokkalingam, founder, Equinomics Research & Advisory.
The focus is now on the RBI minutes, as investors seek to understand its assessment of inflation and growth.
The central bank, in its monthly bulletin on Tuesday, said inflation “may be slightly down, but it is certainly not out,” but sounded optimistic about the near-term economic growth outlook.
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